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Multifamily

Loudon Street Apartments

20 Loudon St, Worcester, MA 01610

Listing Price: $750,000

Cap Rate
6.25%
Number of Units
5
Occupancy
97.0%
Price/Unit
$150,000
Price/Gross SF
$126.82
Gross SF
5,914

Investment Overview

Marcus & Millichap is excited to present 20 Loudon Street located in Worcester, MA. The five-unit apartment building features all one-bed/one-bath apartments. The units feature oak cabinets, tile, carpet and hardwood flooring, and white/gas appliances. The building has gas-fired boiler steam heat. All utilities are included in the rents. The building provides off-street parking and coin-op laundry. The current owner operates their business out of the barn/office and plan to become the 6th tenant where separate electric and gas utilities are available. Buyers have the ability to acquire a fully occupied and stabilized asset with upside to increase rents due to long term tenancy. Loudon Street is located on the cusp of Clark University where off-campus housing is highly demanded and presents an opportunity for buyers to capitalize on significantly higher market rents. Worcester has seen significant growth and redevelop over the past few years and as the second largest city in New England along with eleven colleges/universities and healthcare industry, investors will continue to see appreciation for decades to come.

Investment Highlights

  • 20 Loudon Street is a 5-unit apartment building on .18 acres located on the edge of Clark University in Worcester, MA
  • The property is comprised of all one-bed / one-bath apartments with similar features including oak cabinets, white/gas appliances, gas boiler/steam heat, open layouts and ample storage space.
  • The apartments are currently rented to long-term section-8 tenants with upside to raise rents to local limits. Currently, all utilities are included in the rents.
  • The current owner operates their business in the barn/office and plans to become 6th tenant. The barn has its own separate utilities.
  • 20 Loudon is located just steps to Clark University and walking distance to local restaurants and shopping along with WRTA bus transit on Main Street.

Exclusively Listed By

Financing By

Multifamily

Loudon Street Apartments

Listing Price: $750,000

Cap Rate
6.25%
Number of Units
5
Occupancy
97.0%
Price/Unit
$150,000
Price/Gross SF
$126.82
Gross SF
5,914

Investment Highlights

  • 20 Loudon Street is a 5-unit apartment building on .18 acres located on the edge of Clark University in Worcester, MA
  • The property is comprised of all one-bed / one-bath apartments with similar features including oak cabinets, white/gas appliances, gas boiler/steam heat, open layouts and ample storage space.
  • The apartments are currently rented to long-term section-8 tenants with upside to raise rents to local limits. Currently, all utilities are included in the rents.
  • The current owner operates their business in the barn/office and plans to become 6th tenant. The barn has its own separate utilities.
  • 20 Loudon is located just steps to Clark University and walking distance to local restaurants and shopping along with WRTA bus transit on Main Street.

Investment Overview

Marcus & Millichap is excited to present 20 Loudon Street located in Worcester, MA. The five-unit apartment building features all one-bed/one-bath apartments. The units feature oak cabinets, tile, carpet and hardwood flooring, and white/gas appliances. The building has gas-fired boiler steam heat. All utilities are included in the rents. The building provides off-street parking and coin-op laundry. The current owner operates their business out of the barn/office and plan to become the 6th tenant where separate electric and gas utilities are available. Buyers have the ability to acquire a fully occupied and stabilized asset with upside to increase rents due to long term tenancy. Loudon Street is located on the cusp of Clark University where off-campus housing is highly demanded and presents an opportunity for buyers to capitalize on significantly higher market rents. Worcester has seen significant growth and redevelop over the past few years and as the second largest city in New England along with eleven colleges/universities and healthcare industry, investors will continue to see appreciation for decades to come.

Exclusively Listed By

Financing By

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